Most outrageous quotes on the debt ceiling

October 10, 2013 9:52 AM

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Rep. Justin Amash, R-Michigan: "There's always revenue coming into the Treasury, certainly enough revenue to pay interest. Democrats have a different definition of 'default' than what we understand it to be. What I hear from them is, 'If you're not paying everything on time, that's a default. And that's not the traditionally understood definition." less

Rep. Justin Amash, R-Michigan: "There's always revenue coming into the Treasury, certainly enough revenue to pay interest. Democrats have a different definition of 'default' than what we understand it to be. ... more

Rep. Ted Yoho, R-Florida: "I think we need to have that moment where we realize we're going broke. I think, personally, it would bring stability to the world markets." (The stock market has lost four percent of its value since the federal government shutdown began last week.) less

Rep. Ted Yoho, R-Florida: "I think we need to have that moment where we realize we're going broke. I think, personally, it would bring stability to the world markets." (The stock market has lost four percent ... more

Sen. Ron Johnson, R-Wisconsin (left): "There is absolutely no reason at all for this type of government to default even if we don't increase the debt ceiling. So I think it's highly irresponsible of this administration to be doing the type of scare mongering they're doing on this issue." less

Sen. Ron Johnson, R-Wisconsin (left): "There is absolutely no reason at all for this type of government to default even if we don't increase the debt ceiling. So I think it's highly irresponsible of this ... more

Rep. David Schweikert, R-Arizona: "I will hear language like, 'Well, we are heading toward the deficit ceiling and you are going to default.' Anyone that says that is looking you in the eye and lying to you, either that or they don't own a calculator." less

Rep. David Schweikert, R-Arizona: "I will hear language like, 'Well, we are heading toward the deficit ceiling and you are going to default.' Anyone that says that is looking you in the eye and lying to you, ... more

Sen. Rand Paul, R-Kentucky: "If we don't raise the debt ceiling, what that means is you have a balanced budget. It doesn't mean you wouldn't pay your bills. We should pay the interest and we should never scare the markets. So, if I were in charge, I would say, absolutely, we will never default. I would pass a law saying that the first revenue every month, the first revenue, has to go pay interest." less

Sen. Rand Paul, R-Kentucky: "If we don't raise the debt ceiling, what that means is you have a balanced budget. It doesn't mean you wouldn't pay your bills. We should pay the interest and we should never ... more

Sen. Tom Coburn, R-Oklahoma: "And I would dispel the rumor that's going around that you hear on every newscast that if we don't raise the debt ceiling, we'll default on our debt. We won't. We'll continue to pay our interest, we'll continue to redeem bonds and we'll issue new bonds to replace those. So it's not entirely accurate." less

Sen. Tom Coburn, R-Oklahoma: "And I would dispel the rumor that's going around that you hear on every newscast that if we don't raise the debt ceiling, we'll default on our debt. We won't. We'll continue to ... more

Rep. Joe Barton, R-Texas: "We have in my household budget some bills that have to be paid and some bills that are only paid partially. I think interest on the debt has to be paid. I think paying Social Security payments have to be paid. I don't think paying the Secretary of Energy's travel expenses have to be paid 100 cents on the dollar." less

Rep. Joe Barton, R-Texas: "We have in my household budget some bills that have to be paid and some bills that are only paid partially. I think interest on the debt has to be paid. I think paying Social ... more

Rep. Mick Mulvaney, R-South Carolina: "We're not going to default. There is no default. There's an (Office of Management and Budget) directive from the 1980's, the last time we got fairly close to not raising the debt ceiling, that clearly lays out the process by which the Treasury Secretary prioritizes interest payments. Tim Geithner understood that, because the last weekend of July of 2011 he was in New York City telling the primary dealers that we were not going to default on our debt." less

Rep. Mick Mulvaney, R-South Carolina: "We're not going to default. There is no default. There's an (Office of Management and Budget) directive from the 1980's, the last time we got fairly close to not raising ... more

Rep. Michele Bachmann, R-Minnesota: "I want to state unequivocally for the world, as well as for the markets, as well as for the American people: I have no doubt that we will not lose the full faith and credit of the United States. I have no doubt there will be a final resolve . . . I will not be casting my vote for that bill . . . I cannot. I am committed to not raising the debt ceiling." less

Rep. Michele Bachmann, R-Minnesota: "I want to state unequivocally for the world, as well as for the markets, as well as for the American people: I have no doubt that we will not lose the full faith and ... more

Sen. John Cornyn, R-Texas: "It may be necessary to partially shut down the government in order to secure the long-term fiscal well being of our country."

Sen. John Cornyn, R-Texas: "It may be necessary to partially shut down the government in order to secure the long-term fiscal well being of our country."

Photo: CHRIS USHER, ASSOCIATED PRESS

Sen. John Cornyn, R-Texas: "It may be necessary to partially... Photo-5302363.71828 - Times Union

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Sen. Mike Crapo, R-Idaho: "Well, in the short term, first of all, I think that any such default would be short because I don't think either party would allow that to last. I don't think it'll happen, but if it did it would be very short . . . It all depends on what it generated. If it generates some real progress toward entitlement reform and getting tax reform teed up for activity, then I think that's one of the best things that could happen for young people."
"On the other hand, if it simply in the short term generated government defaults, that's gonna be harmful. So it's kind of a long-term versus short-term view." less

Sen. Mike Crapo, R-Idaho: "Well, in the short term, first of all, I think that any such default would be short because I don't think either party would allow that to last. I don't think it'll happen, but if ... more

Sen. Mike Crapo, R-Idaho: "Well, in the short term, first of... Photo-5302364.71828 - Times Union

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Last but not least, this celebration of the government shutdown.
--Sen. Richard Burr, R-North Carolina: "We always have enough money to pay our debt service. You've had the federal government out of work for close to two weeks. That's about $24 billion a month. Every month, you have enough saved in salaries alone that you've covered three-fifths, four-fifths of the total debt service, about $35 billion a month. That's manageable for some time." less

Last but not least, this celebration of the government shutdown.
--Sen. Richard Burr, R-North Carolina: "We always have enough money to pay our debt service. You've had the federal government out of work for ... more

Last but not least, this celebration of the government shutdown.... Photo-5302365.71828 - Times Union